Financial News
Trump says stock-rallying reports of lifting Chinese trade 'sanctions' were prematureExternal Link

President Trump in comments Saturday said stock-rallying reports this week that trade talks with China would include the lifting of tariffs against the world's second-largest economy weren't true. The president referred to those tariffs as "sanctions" on Saturday. "Things are going very well with China and with trade," he said to reporters. "There were some false reports about sanctions being removed. We have taken in tremendous amounts of money into the United States because of the sanctions and we'll see how it goes. And if we make a deal, certainly we wouldn't have sanctions...," he said, expressing general optimism for progress. The Wall Street Journal reported Thursday, citing people familiar with the matter, that the idea of lifting tariffs in part or whole was proposed by Treasury Secretary Steven Mnuchin in a series of strategy meetings. The report added that U.S. Trade Representative Robert Lighthizer is concerned that any concession could be seen as a sign of weakness, however. Trade issues have been cited as the biggest headwind for stocks rallying in 2019 and the reported tariff removal pushed stock averages to session highs Thursday when the headlines hit.

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Sat, 19 Jan 2019 17:32:18 GMT
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BlackRock accidentally exposes confidential data on advisers using popular iShares ETFs: BloombergExternal Link

BlackRock Inc. , the world's largest asset manager, inadvertently posted confidential information about thousands of financial adviser clients on its site, Bloomberg News reported late Friday, citing a glimpse of the released data before it was removed by the investment firm. The data were linked on one of the company's web pages dedicated to its iShares exchange-traded funds. The documents included names and email addresses of financial advisers who buy BlackRock's ETFs on behalf of customers and appeared to show the assets under management each adviser had in the firm's iShares ETFs, Bloomberg reported. The links were dated Dec. 5, 2018, but it's unclear how long they were public. BlackRock oversees assets of almost $6 trillion and is the world's largest issuer of ETFs.

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Sat, 19 Jan 2019 15:14:36 GMT
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Trump to make 'major announcement' concerning border, shutdown SaturdayExternal Link

President Donald Trump plans to make a "major announcement" concerning the border with Mexico and the government shutdown on Saturday, according to his Twitter feed late Friday. In a tweet, Trump said he would make the announcement at 3 p.m. Eastern time on Saturday, which will mark the 29th day of the partial government shutdown, the longest on record. Trump is locked in a stalemate with House Speaker Nancy Pelosi over funding for his proposed wall on the U.S.-Mexico border.

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Fri, 18 Jan 2019 23:11:04 GMT
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Snap forces out two executives over inappropriate relationship: reportExternal Link

Snap Inc. forced out two of its executives because one of them had an inappropriate relationship with a contractor, according to a report late Friday. The Snapchat parent fired Francis Racioppi, its director of global security, late last year because he had hired an outside contractor, had a relationship with her, and then pulled the contract after the relationship ended, according to The Wall Street Journal, which cited people familiar with the matter. Snap also asked its head of human resources Jason Halbert to leave the company because of the Racioppi incident and other performance issues, WSJ reported. Snap shares declined 0.7% after hours, following a 7.7% surge to close at $6.18 in Friday's regular session.

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Fri, 18 Jan 2019 22:39:12 GMT
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FedEx starts offering buyouts, says costs between $450 million to $575 millionExternal Link

FedEx Corp. began offering buyouts to U.S. employees on Friday, saying in a filing it expects the program to cost between $450 million and $575 million before taxes. Actual costs will depend on acceptance, and most expenses are expected to incur in the fourth quarter of fiscal 2019, the company said. Savings were seen between $225 million and $275 million a year beginning in fiscal 2020, FedEx said. The buyouts are part of a reorganization plan FedEx announced in December alongside its fiscal second-quarter results. That plan also included reductions at FedEx Express' international network capacity and limited hiring. Shares of FedEx rose 0.6% in the extended session Friday after ending the regular trading day up 2.1%.

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Fri, 18 Jan 2019 22:03:54 GMT
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